Top Stories

Markets

Markets are repricing risks and feel neglected by the Fed.

Markets 27th December 2018

DWS: “Markets are repricing risks and feel neglected by the Fed. This could create some downward momentum”

DWS | How should a hedge fund have positioned itself if it had known the U.S. Federal Reserve’s (Fed’s) decisions and press release a day ahead of the market? Until lunchtime on Wednesday noon its staff might have reasonably concluded that the material contained preciously little actionable information. On paper, it would have all looked exactly as expected, leaving limited scope for any meaningful market reaction. This is not, of course, how things actually turned out.

 

EuroStoxx50

Markets 17th December 2018

2018 the worst year for IPOs in Europe since 2013

Alphavalue | Inflows from IPOs in European stock markets reached $35 bn, or what is the same, -37% compared to last year which makes this 2018 the worst year for IPOs since 2013, only surpassed by fateful 2016.

 

Merger in sight in Spanish banking sector: Unicaja and Liberbank could create the sixth largest entity for assets

Markets, Spanish Small & Mid Caps 14th December 2018

Merger In Sight In Spanish Banking Sector: Unicaja And Liberbank To Create The Sixth Largest Entity For Assets

Unicaja Banco and Liberbank have acknowledged this Wednesday preliminary contacts for a possible corporate operation without, for now, having taken any decision. If the operation is carried out, the resulting bank would be the sixth largest in assets overtaking Bankinter and could achieve cost synergies of around 200 million euros (50% of the base costs of Liberbank in 2018).

Letterone launches a bid for DIA at 0.67 €/share: shares rise 60%

Ibex, Markets 13th December 2018

The supermarket chain DIA falling apart

The bad spell began in the middle of October with a profit warning for 2018 and has finished this week with the announcement of its exit from the Ibex35 at the end of the month. Between one event and the other, the company has suspended its dividend for 2019, has reorganised its leadership team, has been downgraded by Moody´s and S&P and has considered closing unprofitable stores in Spain.

Santander could return to Venezuela through Julius Baer

Ibex, Markets 11th December 2018

Santander Can Return To Venezuela Through Julius Baer

The market is speculating that Banco Santander could return to business in Venezuela through the assets of Julius Baer. The Spanish bank has not operated in Venezuela since it sold its shares in Bank of Venezuela to the country’s government for 1.050 billion euros.